This analysis covers Unilever's external environment, strategic capabilities, business strategies, and sustainability. It includes PESTLE analysis, Porter's five forces, and VRIO framework.
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A critical analysis of Unilever business strategy
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Table of Contents INTRODUCTION...........................................................................................................................3 External Environment.............................................................................................................3 Strategic Capabilities..............................................................................................................6 Business strategies..................................................................................................................8 Politics affecting Unilever......................................................................................................9 Sustainability of Unilever.......................................................................................................9 International strategy of Unilever.........................................................................................11 Business model canvas.........................................................................................................12 Strategic Options.................................................................................................................13 CONCLUSION..............................................................................................................................16 REFERENCES..............................................................................................................................17 Books and journals...............................................................................................................17
INTRODUCTION A business strategy isa set of competitor changes and activities that an enterprise utilise to captivate consumers, to take part with success, increasing the presentation, and accomplishing the objectives of a company. It figure out the way an enterprise should be carried out to extend the desirable points. A business strategymakes an imagination and path for the overall firm. It is essential that every individual in a firm have clarity of objectives and are pursuing the path, or aim of the firm(Villena and Dhanorkar, 2020). Unilever is taken as the base company which is a British multinational customer commodities firm founded in 1929. This firm serves as home care products, Beauty and personal care and also food, refreshments to the different parts of the world. This file covers analysing of external environment by using PESTLE and Porter's five forces, strategical abilities and corporate strategies used by the firm. This will also cover some issues of politics, sustainability or business models and strategical options for the firm to improve competition in the future. External Environment PESTLE Analysis This factor is connected to governing body which may affect a firm or an management. This component is forever at the danger of being targeted by the system of rules as it has its personal priority that is safety of the people. The authorities will prohibit the company if it does not connected with risk and wellness incidental to regularisations. In case of Unilever, firm is capable to the regulative limitation and road map noticed by the European Committee andthe Food and Drug managementthe United States of America(Waghmare and Golhar, 2017). If they were not capable to follow, the firm would face lawful problems that is civic and criminal and risk fines.Unilever is likely to all localised and regional laws and international rules set in every state where the commodities of the firm are distributed. Economical: This factor has a vast affect on economic condition of a company either growth or declining, extended opportunities in the market. If economic situation is changing, then no doubt it will affect rightly or accidentally to the organisation. In context to Unilever, can utilise country’s economical constituents like development rate, rising prices & firm's economical signals like
individual commodities business growth rate, customer payment and many more to predict the development direction of not only sectors but also that of the selected firm. Social: This factor refers to the societal condition of any company which can affect the understanding or behaviour of a consumer. Unilever can lessen its energy intake by taking new and most energy- effective applications. Also, the Unilever can develop by high sales related to improvement in salaries between female customers globally(Tarrant, 2018).There is also an increasing supply for premium commodities of skin care in the rising industry. Technological: This factor has a immense effect on the business organization or enterprise as a small growth in the functional application will definitely impact the administration. The success of any company depends on the factor itself as this plays a better portion in the development of any firm. This firm has the opportunity to modify its inquiry and development benefits to increase the efficiency of the company. In relation to Unilever, there is an execution of coordinated supply chain and investing people data centres to study the attitude of customers. Legal: This factor affects both inner and outer condition of a firm. This condition can affect program of activities and procedure of an enterprise and can control safety and daily tasks. Changes in lawful systems may affect the company by an impressive new participation(Abubakar and Mohammad, 2019). In case of Unilever, regulative approving set back in making all the decisions and development in the chosen firm. Also there are modifications in the laws related to tax and their rules and regulations. Environmental: This factor chiefly associates with the result of the almost environmental and the impact of ecological chance. This characteristic is incidental to the natural environment and the mode it affect any firm. This factor also offers some possibilities by which it can gain its environmental system which will allow it to change its business presentation. In context to Unilever, It has taken some special measures to address the modifications in the climate inside the value chain. Porter's five forces model Bargaining Power of the buyers:
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In this force, buyers have more power to supply low cost or high choice commodities that is upto what level consumers are capable to put the overall firm under the force. Here consumers has a lot of ability when their bargaining power is great. As in this firm also the bargaining power of buyers is high due to the presence of different sellers in the marketplace. In case of Unilever, there is low switching price which makes very ease for the consumers to transfer from the Unilever to the commodities of another firm and high quality of data and information present in the marketplace which make more ease to decide when transferring from the selected firm to the other providers. Bargaining Power of suppliers: This is related to the powerful bargaining power which permits the supplier to exchange a good cost or less choice of raw materials to their buyers. So this force examine how much ability a firm's provider has. The increase in the supplying capability makes it adventurous for the providerforthesuccessfuldevelopmentofthefirmoranyadministration(Aksoyand Abdulfatai, 2019). In relation to Unilever, there is a moderate size of individual and population suppliers which makes them enable to enforce significant but limited effect on the industries and in the same manner of population suppliers in customer goods industry surroundings. Threat of New Entrants: This force set how simplex or not it is to get into a particular business. New entries bring new scope and wish to get market share and also at the similar period of time it impacts the power of a firm. The little duration and money it costs for a competition to get into the industry and will become a booming challenger, the more organization's place could be diminished. In context to Unilever, it will have low switching cost which enables to enforce a strong force against the selected organisation and high pricing in the development of brand as it is new in he market so there is an need to advertise it publicly. Threat of substitute products: This force is concentrating on the secondary commodities. It is especially threatening when buyers can easily search alternate commodity with the best cost and good regular commodities. Also when purchasers can change from one product or service to the other with a less cost (Kalita, Poesche and Kauranen, 2018). In relation to Unilever, there is a less presence of substitutes and less performance to pricing ratio of substitutes when it is compared with the commodities of customers which are readily present in the industry.
Rivalry amongst existing competitors : This force is the primary factor on how competitory and gainful a business or an administration is. And this force is in use to determine how utmost the actual rivalry is in the marketplace. It will be advanced because of the enhanced demand for the firm and supplying of commodities to meet all the requirements. In relation to Unilever, there is a high number of companies which are functioning in the customer commodities enterprise(Davidson, 2017). There is also a tough competition in the market due to the low switching costs. Strategic Capabilities VRIO framework This is another most important organization analytical and management framework, helps in the effective management of organization resources, this helps to analyse the organization resources capability and opportunity's related to that(Bock and George, 2017). This analyse that who much resources organization is having with competitive advantages and disadvantages in order to asses their strategic sustainability, so that this can be effectively manage with right decision. ResourcesValuableRareImitableOrganized Human Resources YesNoNoNo Distribution network YesYesNoNo Intellectual property YesYesYesNo Brand PortfolioYesYesYesYes Valuable-This factor involves the analysis of the organisation resources value and there competitive advantages(Bongomin,and et. al.,2017).In context of Unilever the main resource which is highly valuable for the company is the human resources of the company.Unilever has created a talented and experienced workforce on a global scale which supports the company in eliminatingbarrierstosuccess.Thetotalworkforceofthecompanyequalsto149,000 employees.The workforce of the company provides the firm competitive advantage by ensuring smooth functioning of the company in different international market and supporting attainment
of business objectives in a timely manner.Another valuable resource which is present at Unilever is the strong distribution network of the company. Unilever has been able toconstruct aglobal distribution network which supports quick movement of goods across the globe.With the help of such distribution network Unilever is able to quickly respond to market changes and consumer demands.The company has built expertise in last mile distribution and providing quick delivery to consumers across the globe.The intellectual property of Unilever is also a valuableresourceofthecompanybecauseitconsistsoftheinnovationswhichhelpthe companysolve consumers problem effectively and create a distinctive brand image in the industry.After this, the brand portfolio of the company consisting of various global as well as regional brands is the valuable resource of the company which enables Unilever to maintain strong presence in different international markets. Rare-This is another factor of the framework covers the analysis and management ofthe rare competitiveresources(Greevenand Wei,2017).Thedistributionnetwork establishedby theUnileveris a rare resource held by the organisation becausedevelopinga global distribution network is time consumingand requires heavy investment.Recently formed enterprises are not able to will such strong distribution networks which make this resource rare.The intellectual property of the organisation which consists of 20,000 patentsis a rareresourcebecausepatents cannotbeeasilygainedandinvolvelegalprocedurestoacquireaninternationalpatent (Innovating boldly for people and planet, 2021).Finally the brand portfolio of in liver is real because it consists of different established national and regional brands end developing such huge portfolio requireshuge financial investment and time. Imitable-This involve the some important sates of the resources which are limited, effective, competitive and cannot be achieve by the competitors easily(Kariv, Cisneros and Ibanescu, 2019).The patents gained by Unilevercannot be imitated easilybecauseacquiring international patient is a time consuming process which requires following different legal procedures. The resource of gaining patents on different innovation has helped the company secure innovative solutions on an international scalefor thousands of innovative products which is not easy to imitate.The brand portfolio of the company which consists of hundreds of different regional international blends which are established effectively in different markets cannot be imitated easilybecauseacquiringandmaintainingsuchbrandsonlocalandgloballevelrequires marketing and financial effort along with huge time investment.
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Organisation-This part of the framework is involving organisation resource's which is unused and which help to get competitive advantages(Khan and Naeem, 2018).The most organised resource present at Unilever isthe divers and large brand portfolio of the company which consists of different brands catering to a different market segments. This is an organised resource because the company is able to use the brand portfolio to target different consumer segments including male female childrenconsumers from differentinternational markets and cultures. This organised resource helps the company maintain profitable global present and ensure hi profitability from different international markets. Business strategies Porter’s generic strategies The porters generic model provides different strategies which can be used byorganizationsto improve their competitiveness(Nicholls-Nixonand et. al.,2021).The options provided in this model for increasing competitive advantage are explained below in context of Unilever: Cost leadership strategy This strategy aims to provide business forms competitive advantage with the help of increasing can do movies and lowering prices.The company is able to gain leadership positionby reducing prices of the products and offering commodities at below average price.The advantage of this strategy is that it helps the company enhance market size and profit marginsquickly.The disadvantage associated with this strategy is thatreducing prices of various products financially burdens the company and reduces the scope of developing innovative products(Rexhepiand et. al.,2017).In context of Unilever the respective company adopts this strategyby selling products either at average industry prices to earn a profit higher than that of rivals or below the average industry prices to gain market share in developing economies such as India.This strategy helps the firm build economies of scale and attain high profits throughproviding products at prices lower than industry average in large product volumes. Middle income and lower income consumers are retained for a longer time period by such lower priceofferings which helps the firm maintain leadership in the market for a longer time period. Differentiation strategy In this strategy innovative products or services are provided by the company in order to create a distinctive brand portfolio and improve competitive advantage.Theadvantage of this strategy is that it helps the company solve consumer problems in innovative mannerand retain loyal
consumers through unique products.The disadvantage of this strategy is that it requires heavy investment in research and development and it's a high risk strategy for attaining long terms ofsuccessin the industry. Unilever utilizes this strategy byDeveloping new productsAnd creating patents by investing 800 million euro's in research and development in the year 2020 with the help of 5000 experts working on innovative productsandpatentsfor the company. This helps the firm gain competitive advantage by diversifying product portfolio with innovative productswhich increase long term survival and consumer retention. Focus strategy This strategy involves targeting niche market segments andeitherdeveloping unique products and services which satisfy the needs of this particular market segmentor by reducing costs for the specific market segment(Shala, Kutllovci and Troni, 2018).The advantage associated with the strategy is that it helps gain loyal consumer base by providing specific and unique products ready to do the particular needs of thenichemarket.The disadvantage of thisstrategy isthat it limits consumer base of the companywhich affects the profitability gained the application of this strategy.In contextof Unilever the strategy is utilized by the company todevelop a loyal consumer base in foreign markets. Politics affecting Unilever Political environment is a critical element which affects the company and the internal politics of the company also play an important role in success of the company. The external political environment affects the future direction of the company because it leads to changes in trade laws and government regulations (Sassen, 2017). The stability of political environment also affects the future success of the company. In case of Unilever the implementation of Brexit is the main political factor affecting the external environment of the company. Brexit has changed the political relationships between and UK and it is important that Unilever makes appropriate changes in the supply chain to ensure that goods are transported too markets in EU effectively. Internal workplace politics affect success of the company because such politics can create hostile or discriminatory working environment. Its essential the Unilever ensures workplace politics supports maintaining of positive working environment and does not create hostile environment to ensure daily smooth functioning of the company. Sustainability of Unilever Triple Bottom Line
Sustainabilityisoneofthemostimportantissuesofthecurrentbusiness environmentbecause of increasing consumer demand towards lowering environmental impact of business firms.One of the most effective models which can be used to understand the level of sustainability of businesses and its impact on performance of the company iselkington'striple bottom line model. The application of this model can provide an understanding of the impact of sustainable business practices on the competitive positioning of Unilever.The three main elements of this model areProfit people and planet(Sherman, 2017).This model states thatit is equallyimportanttofocusonpositivelyimpactingthecommunitiesandenvironmentas increasing the financial performance of theorganization. The application of this model on Unilever is provided below: Profit:The first element of the triple bottom line ensures success of an organisation in a capitalist society and economy.Maintaining and maximising profitability is one of the main goals of businessesand it is essential that organisations create strategies which are designed to maximiseprofit,lowercostsandreducedrisksassociatedwithvarious businessendeavours.Unilever photos this element of the triple bottom line bydeveloping strategies and plans to ensure continuous success and profitability of the company.That expected company focuses on providing high returns to investors and shareholders through calculated usage of profits andimplementation of plans which reduce risk of the company.This helps the company gain competitive advantage by attaining higher profit margins andincreasing consumer attention to ensure long term growth. People: ThisElement of the triple bottom line looks at the impact of business operations on society and community.Sustainable growth and development of a companies dependant on the positive outcome of business operations on social issues and communities related to the organisation.Businessformsneedtolookbeyond investorsandshareholdersisthemain benefactors of business operations and ensure that communities consumers suppliers employees andsociety gains positive results from the activitiesof the firm(Sung and et. al., 2017).The actions taken by Unilever to support positive development of the community provide the firm competitive advantage.The programme initiated by Unilever to raise living standards of millions of people so that prosperity is shared fairly all across the globepositively impact community and support creation of a moreegalitariansociety.The community development initiatives of Unilever helped build small and medium sized retailers which impact beyond value
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joint and causes positive change in society. Apart from this the stand of Unilever on providing fair living wages to employeesalso supports inclusive economic growth of the society (Raise Living standards, 2021).In this way Unilever is able to,create fair workingenvironmentfor employees across the supply chain and contribute to positive development of the society.This type of brand image helps the companyattract consumers and avoid criticisms regarding negative social impact. Planet:Environmentfriendlypractiseswhichprotectnaturalresourcesandsupport eliminatingclimatechangechallengesarepartofthelastsectionofthetriplebottom line.Unilever has taken action to battle climate change concerns, protect and regenerate nature. this involves creating a waste free world an cuttingplastic waste by using less plastic and initiating transaction to circular economy.The company is also taking steps to reduce food wastage in factoriesto create a waste free world (Waste-free world, 2021).This element of the triple bottom line is advantageous for Unilever as it helps the companylower costs and wastage while also protecting the environment.Unilever is able to build a sustainable brand image and attract environment friendly consumers through this element of the triple bottom line. International strategy of Unilever Franchising This strategy focuses on building franchises of the company in different locations by granting individuals right to sell intellectual property of the company by utilising the business system of the firm. This internationalization strategy is used by Unilever through franchising dealerships in different international market. Franchising dealership to create an extensive distribution network helps Unilever expanding to every corner of the world. In addition to this the company is able to gain help from local individuals with business acumen to ensure effective management of the distribution network. Joint Venture Inthisstrategyforinternationalization,businessfirmscreateajointentitywithshared ownership, governance, risk and returns in order to successfully enter a foreign country. The advantage of this internationalization strategy is that it helps the company gain the knowledge and resources of local business firms which reduces uncertainty associated with entering a foreign market (Thakurand et. al.,2018). In context of the respective firm, Unilever has created joint ventures to successfully enter international markets and build strong global presence. A
recent joint venture introduced by Unilever is with Europe and Asia Commercial Company in Myanmar (Unilever and EAC announce Joint Venture in Myanmar, 2021). The aim of this joint venture is to manufacture, market and distribute home and personal care products in Myanmar. This joint venture will help the respective company create strong presence in Myanmar and lower risk associated with operating in Myanmar which lacks political stability. In addition to this, the joint venture will also support long term growth off Unilever in Myanmar. Business model canvas This is a strategic tool used to effectively communicate a business concept. The business model canvas for Unilever is provided below: Consumer Segment: This involves information about the target consumer base and their characteristics. In context of Unilever, the firm has multinational presence and offers diverse products and services in 190 countries. The market segmentation strategy helps the company deliver quality products to consumers on the basis of their income, their gender and geographical background. For example the company has introduced perfumes catering to male consumer segment while dove products with fruity scents are targeted towards female consumer segments. The focus of Unilever to target different consumers through the diverse product range of the company helps the firm reach large number of consumers and create economies of scale. Consumer Relationship: The ways in which the business firms interact with the consumers shapes consumer relationship and is the main part of the business model canvas. The respective company has been able to build strong relationship with consumers through long history and strong local marketing. Channels: The primary channels selected for increasing brand awareness about the company are provided in this section of the business canvas model(Umar, Sasongko and Aguzman, 2018). Unilever utilizes diverse communication strategies to connect with consumers. This involves traditional channels such as print and TV media along with digital channels such as social media and email. This helps the company reach vast globalconsumer base and maintain stable profitability. . Key Activities: The actions conducted by the business firms to provide value proposition of the business concept are included in this element of the business canvas model. The key activitiesconductedbyUnileverincludeHumanresourcemanagement,financial
management, production of goods and services. Distribution of goods and services through global supply chain, marketing and consumer service. Key Resources: This resources essential for development and introduction of are part of this element of the business canvas model (Dhiman, 2018). Wide range of resources are needed by Unsilver to ensure swift functioning of the global supply chain and each consumer gains high quality products in 190 international markets. This involves human capital, financial resources, machinery, warehousing, raw materials and transportation network. Key Partners: This involves the list of key suppliers, groups or organisations which need to be collaborated with in order to successfully launch the product or service in the market. In order to make a positive difference while achieving business objectives Unsilver works with NGO’s, suppliers, consumers, investors, customers, governments and regulators. These are the key business partners of the company. CostStructures:Thefinancialinvestmentandthemonetarycostsrequiredforsmooth functioning of the business is part of this element of the business canvas model. The in factory costs of Unilever include supply chain costs which consists of material costs, productioncostsandsupplychainindirect.Materialcostsincluderawmaterialand packaging costs. Production costs include labour costs, utility costs, repair and maintenance costs, depreciation costs, production indirect, other production services and sub-contracting costs. Revenue Streams: The ways in which the enterprise turns value proposition into financial gain are defined as the value stream of the company(Gao, 2018). The three main operating segments of Unsilver which provide the company highest revenue are personal care, foods and refreshmentsand home care products. The products includedin these operating segments cater to different market segments such as different gender segments and different market segments on the basis of their geographic location. In this way Unilever is able to gain revenuefrom the sale of wide range of products catering to different consumer segments. Strategic Options This tool helps to identify the future opportunity for growth, which help to select the right way of market expansion and growthwith inthe application of existing and new products at existing or in new market.This involves the product marketing strategy in context to the market
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expansion by focusing on the existing and new products and existing market.There are the four major approaches developed by this model is market penetration, market development, product development and diversification. This is the type of communicable tool help to identify the different growth strategies. ï‚·Marketpenetration-This is the first element of matrix, common and less risky. This involves the action for existing market penetration with higher product sale. This strategy can be adopted by Unilever by decreasing prices to attract new consumers,increasing promotionanenhancing accessibility to different products and services. In addition to this the company can also acquire competing brands in order to ensure complete market domination(Gromoff, Bilinkis and Kazantsev, 2017). The advantage ofthisstrategy for Unilever is that the company will be able to maximise profitability in a specific market greatly disadvantage of this strategy is that market penetration increases the dependency of the organisation to a specific market. ï‚·Productdevelopment-The product development strategy involves introducing a new product to existing markets of the company back conducting research on new product development and diversifying product range of the organisation. This strategy can be adoptedbyUnileverthroughinvestmentinresearchanddevelopmenttoprovide products. The advantage of market development strategy is that it has the form improve productrangeexpertchangingmarketdemandsandconsumerexpectations.The disadvantage of this strategic option is that it requires heavy investment in research and development without any guarantee of success. ï‚·MarketDevelopment:When a form enters new market with the existing productthe strategic option adopted by the company is market development(Iyigun, 2018). This strategic option can be implemented by Unilever by catering to different consumer segment and expanding regionally or internationally to build better consumer segments. Theadvantageofmarketdevelopmentasfuturestrategicoptionisthatitlowers dependency for company on specific market while the disadvantage of this strategic option is that it is ahigh riskstrategy option as there is no assurance of gaining success in a foreign market. ï‚·Diversification- This another most effective strategy of market penetration and growth with the application of which organization can increase their customers and business size.
In this strategy the company enters a new market with a new product aimed at satisfying the consumer needs of specific market this is the highest risk strategy option but it also offers high potentialfor generatingrevenues(KafetzopoulosPsomasand Skalkos, 2019).This strategy can be adopted by Unilever by developing specific innovative productswhichsolvetheconsumerproblemsinanewregionalorinternational market.The advantageofthisstrategicoptionisthatit canprovidehighreturnsto Unilever iron strengthen international position of the company.The disadvantage of thishowdid you option is large amount of investment in uncertain territories. From the above discussion it is determined the most effective strategic option for Unilever is market development.This is because it will help the company expand international presence and exploit the strength of strong distribution network to maintain global leadership.The company will also be able to face competition by increasing sources of revenue and international strength.
CONCLUSION From the above report it is determined that it is important for business firms to develop a suitable strategy for future on the basis of their external environmental analysis. External environment can be analysed with the help of models such as PESTEL analysis and Porter’s five forces analysis. It is essential to understand the strategic capabilities of a company through the applicationofVRIOanalysissothatthestrengthsofthecompanycanbeunderstood. Constructing business strategies which are related to the competitiveness of the company supports long-term growth of the company. Politics and sustainability impact business firms and the level of sustainability in an organization can be understood with the help triple bottom line. There are different strategieswhich can be used for internationalization including formation of joint venture and direct export. It is important to develop clear understanding of the business model of the company in order to create future strategies of the firm. Ansoff Matrix provided business firms suitable strategic options for future decisions.
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